VIC Buying in this two weeks before 1st July in VIC?

Did your colleague in Brisbane get a good deal on their new apartment here? There's heaps on sale now, I'm sure they may have bagged a bargain 20 or 30% below market price at least.

Looks at this ad I found in brisbane city,
131/19 Eagle Terrace Brisbane City Qld 4000 - Apartment for Sale #125516798 - realestate.com.au
$1,369,900 fixed price. Bargain? Probbaly could snag it for 1.2m or less.

 

Wow 450/wk for a shoebox sounds pretty steep and CRAZY. You could probably rent a big farm somewhere for that kind of money.

Rents may suddenly collapsed if the local economy collapses or new rules free up a massive amount of vacant property. But I did read that rents in Syd/Melb rents are at record highs and a rental crisis is happening. But not a surprise with the number of immigrants adding to the population.

 

I was reading this vic planning authority report release in june 2017 - population growth is fueling a lot of this.

 

seems like migrants flooding into melbourne and sydney. MT probably will have to do more visa tightening soon.

 

I just got a rental appraisal for my dog box on the CBD fringe. $550 per week unfurnished.

Could be agent adding a bit of mayo, but it is in low density boutique complex, so maybe.

 

I tried to get them not to buy an apartment wherever appropriate it's was in Brisbane west and they said they were getting bargains yes

 

dogbox or not rents are high in CBD fringes. $$ still $$ in ur pocket.

 

yup thats why if you could snag a bargain at 30% or more below market price for a well located and good sized 3 bedder unit/townhouse why not? For a busy young couple with maybe only 1 or 2 kids, that is more than ample living space. Plus that may be the only way to get into a more expensive suburb near the CBD within the catchment of good schools.

 

The issue I would have with apartments is that I'm too close together with way too many neighbours, the maintenance is dependent on all the neighbours wanting to keep that good looking facade, and come a few years later it loses its good looks and appeal to sleeker looking new builds and I decide to sell, the circumstances of someone else selling at the same time in the apartment block can force my price. That and a balcony is just not enough green space in this lovely country.

The pros are that its bound to be well located, and very secure.

As for the colleagues, their reasons were that they are young and come from backgrounds (Barcelona, Germany, Russia) that is big on apartments. They didn't want the commute, yet. That was for later.

I bought a well located townhouse as my first property, 5 min walking distance to station, 2 min to all the local amenities. i really love the convenience but I can't make it my final home, just a step towards it. if I had a go again I would buy something with a bigger land content. My subsequent IPs are with land so I have more options.

I think a younger me was more about ease of use, walking distance to amenities and convenience, but with more experience it's become all about future proofing and having multiple options.